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Wait for a buy around 1.1716 with a take profit at 1.2469

Wait for a buy around 1.1716 with a take profit at 1.2469 | 17 October 2017

17 October 2017, EUR/USD

Wait for a buy around 1.1716 with a take profit at 1.2469
Technical Observation:
Last week, Eur failed to penetrate below the support line 1.1715, and is still rallying above. Following the bounce from this line, I excpect a rise towards the weekly resistance line 1.2469 or even higher to 1.3615. If the price can break below 1.1715, then a sharp decline towards 1.1453 will be the next ideal move. In this pair, good buy places can be seen around 1.1716, and 1.1453, if these lines are broken, then the price could continue dropping but should not go beyond the weekly support line 1.0480.
Technical levels:
Resistance levels
R1: 1.1811
R2: 1.1886
R3: 1.2033
Pivot
1.174
Support Levels
S1: 1.1447
S2: 1.1594
S3: 1.1664
Trade Signal
Wait for a buy around 1.1716 with a take profit at 1.2469

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Imelda Maseno
Analyst of «FreshForex» company
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